Concentra Group Holdings Parent (NYSE:CON) Hits New 12-Month High – Here’s What Happened

Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) reached a new 52-week high during trading on Tuesday . The stock traded as high as $28.47 and last traded at $28.08, with a volume of 893176 shares changing hands. The stock had previously closed at $28.13.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings raised shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Truist Financial reaffirmed a “buy” rating and set a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. Wells Fargo & Company lifted their price target on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Finally, The Goldman Sachs Group initiated coverage on Concentra Group Holdings Parent in a research note on Friday, June 5th. They set a “buy” rating and a $30.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Concentra Group Holdings Parent presently has an average rating of “Moderate Buy” and an average target price of $30.20.

Concentra Group Holdings Parent Stock Down 0.2%

The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26. The business has a 50 day simple moving average of $24.19 and a 200 day simple moving average of $22.47. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 1.28 and a beta of 0.82.

Concentra Group Holdings Parent (NYSE:CON) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The firm had revenue of $569.56 million during the quarter, compared to analysts’ expectations of $553.53 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, equities analysts predict that Concentra Group Holdings Parent, Inc. will post 1.53 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a $0.0625 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.9%. Concentra Group Holdings Parent’s payout ratio is 17.99%.

Insider Activity at Concentra Group Holdings Parent

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $25.00, for a total value of $3,250,000.00. Following the completion of the transaction, the director owned 763,455 shares in the company, valued at $19,086,375. The trade was a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Concentra Group Holdings Parent

A number of institutional investors and hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its stake in shares of Concentra Group Holdings Parent by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 27,308 shares of the company’s stock worth $537,000 after purchasing an additional 500 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Concentra Group Holdings Parent by 32.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,118 shares of the company’s stock valued at $42,000 after acquiring an additional 514 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Concentra Group Holdings Parent by 1.9% in the first quarter. Gamco Investors INC. ET AL now owns 29,256 shares of the company’s stock valued at $628,000 after acquiring an additional 536 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Concentra Group Holdings Parent by 124.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock valued at $25,000 after acquiring an additional 663 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Concentra Group Holdings Parent by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 22,750 shares of the company’s stock valued at $448,000 after buying an additional 690 shares during the last quarter.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent (NYSE:CON) is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.